We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 08 December 20
MARKET ANALYSIS - ALLIED SHIPPING
 It is now undisputed that oil consumption for 2020 will post a considerable drop, as demand for several petroleum products has plummeted since the start of the pandemic. According to EIA data, oil consumption will reach this year 92.91 million bpd, almost 8.5% lower compared to last year and at its lowest point since 2013,said Allied research in its latest report.
At the same time, world oil production is estimated to have fallen to 94.42 million bpd, leaving a surplus in the market of approximately 1.5 million bpd. This imbalance between demand and supply in the market has resulted in a profound drop in freight rates for tankers as of late, with the low oil prices though curbing somewhat the decline as key importers, such as China, look to build up stock at favorable pricing terms.
According to Allied, for next year, all estimates are pointing to a strong rebound, with the latest data forecasting that global demand will climb to 98.80 million bpd (a 6.3% growth). The end of the pandemic will undoubtedly revive global consumption, with demand for some oil products such as jet fuel, diesel and gasoline boosted, as people begin travelling and going back to business as usual.
This concurs with refining throughput data, with the global figure for 2019 standing at 81.9 million bpd, while in 2020 this figure fell to around 74.3 million bpd. A gradual recovery for next year is expected to regain only around 4.9 million bpd of this lost output. Two of the most important petroleum products are motor gasoline and diesel, where we witnessed a major decline this year. In particular, motor gasoline consumption in the US is estimated to have dropped to its lowest point since 1997, reaching 8.14 million bpd, while distillate fuel oil consumption also dropped by a record rate of 8.3%. A very impressive fact considering that the number of registered motor vehicles in the US increased by around 30% since then.
These figures all point to the impact of the pandemic on vehicle movements, as road travelling was minimized. However, it is also highlighting the structural shift from gasoline/diesel engines to electrical vehicles, with the latter having increased to 727,000 vehicles in 2019, a rise of 165% since 2010. This is reflected on the consumption data, as the average y-o-y growth during the period 2000 -2010 for gasoline was 0.6%, while the respective figure for 2010-2020 is estimated at -0.9%. This trend is also being witnessed in China, where the average y-o-y growth rate has declined about 1% for gasoline and 5.5% for distillate fuel oil this decade, with the drop being particularly evident since 2015. Identically, the total demand for gasoline in the EU has fallen by 18.7% between 2010 and 2019 and diesel/gasoil volumes by 1%. Moving on to jet fuel, the annual drop this year is estimated to also be at record levels. Here, we have seen a decrease of approximately 38% in the US for this year, with consumption reaching historical lows. Estimates for next year are for a rise back to 1.56 million bpd, though still below any recent figures. However, consumption hare has been much more resilient, as demand for air travel has increased massively with alternative fuels being minimal so far. Nevertheless, it is only a matter of time before measures for the decarbonization of the aviation industry start taking effect.
In the following years, the necessity for close assessment of demand and supply balance will be even more vital for the tanker market, given that consumption rebound in the coming years is at best going to just boost figures on par to those noted during 2015-2019. This inevitably leaves for minimal growth potential in a sector that is currently finding itself in the midst of a major supply glut.
Yiannis Vamvakas
Research Analyst
Allied Shipping Research
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 20 May 20
ADARO ENERGY BOOKED A 5% INCREASE IN COAL PRODUCTION VOLUME Y-O-Y IN 1Q2020
PT. Adaro Energy Tbk, Indonesia’s one of the largest coal miner, booked a 5% increase in coal production volume year-over-year in 1Q2020. The ...
Wednesday, 20 May 20
BRAZIL SOYBEAN EXPORTS HAVE BEEN SURGING THIS YEAR - BANCHERO COSTA
Brazil soybean exports have been surging this year, thanks to a combination of strong demand from China, a bumper crop, and favourable exchange rat ...
Wednesday, 20 May 20
MARKET INSIGHT
Seafarers keep maritime trade going so that the food, raw materials, energy and manufactured goods on which so many depend can continue moving arou ...
Tuesday, 19 May 20
AMENDMENT OF THE INDONESIAN MINING LAW: TYING UP LOOSE ENDS - UMBRA
KNOWLEDGE TO ELEVATE
The finalized draft of Law on the amendment of the Mining Law (Bill) was publicly released on 11 May 2020 and was then ap ...
Monday, 18 May 20
TAKING ADVANTAGE OF VIRUS DISTRACTION - BALTIC EXCHANGE
As the industry grapples to deal with exceptional Covid-19-related challenges, a deeper threat is coming to the fore. At this time of crisis, more ...
|
|
|
Showing 956 to 960 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
|
| |
| |
|
